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Electronic Financial Transaction Routing

  • US 20090070246A1
  • Filed: 09/10/2007
  • Published: 03/12/2009
  • Est. Priority Date: 09/10/2007
  • Status: Abandoned Application
First Claim
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1. A method for determining a network for settling an electronic transaction at a financial transaction processor, the method comprising:

  • receiving a transaction from a merchant, wherein the transaction includes a bank identification number (BIN) and a geographical state identifier associated the merchant;

    determining if one or more network flags are asserted in a BIN network file;

    if a single network flag is asserted, routing the transaction through a network associated with the network flag;

    if a plurality of network flags are asserted, routing the transaction through the least cost network of the networks associated with the plurality of network flags; and

    if no network flags are asserted, routing the transaction through the least cost network.

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